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1
Higher Education Expenses Paid From an IRA
2
What You’re Up Against For Financial Success
3
An Asset Allocation For Your Health Savings Account
4
What to do When You Owe Taxes
5
Millennials and Estate Planning

Higher Education Expenses Paid From an IRA

Another way to pull funds from an IRA  without having to pay the 10% penalty is to use those funds for Qualified Higher Education Expenses (QHEE).  This comes up quite often, as parents are faced with the issues surrounding the dueling requirements of retirement saving and paying education expenses for the young ‘uns.

We’ve been talking about the components of Internal Revenue Code Section 72, and specifically here we’re talking about §72(t)(2)(E).  In this portion of the code, the provision is made for an IRA owner to withdraw, without penalty, amounts “not to exceed the Qualified Higher Education Expenses for …

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What You’re Up Against For Financial Success

Our firm of fiduciary advisers spend a significant amount of time helping clients distinguish the differences between practical decisions and emotional decisions. Everyone likes to think that they always remove emotion from the equation and respond with reason.

When it comes to money, there are few places where emotion has a greater presence. Long before you battle letting emotion slip into your investment behavior or influence your level of spending, you make the decision of partnering (or not) with an adviser.

Whether it is your nephew, a friend from church, or an old college pal, deciding who (if anyone at …

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An Asset Allocation For Your Health Savings Account

Health Savings Accounts (HSAs) are one of many types of tax-advantaged accounts. With an HSA, not only do you get a tax deduction when you put the money in, but there is no tax owed when the money is withdrawn and used for qualified medical expenses. Not only are you able to pay for your health care expenses with pre-tax dollars, but you are also able to invest the money in your HSA and watch it grow. This is one of many ways to avoid paying capital gains on stock appreciation.

On account of all of the benefits, …

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What to do When You Owe Taxes

For all your good intentions, you’ve found yourself in a position where you owe taxes to the IRS that you can’t pay right away. All is not lost, there are ways to deal with this situation that can be helpful if you can’t pay. The IRS has several methods you can use to arrange a plan to pay the IRS taxes that you owe over time.

The most important part is to not ignore the situation, you need to take action and make arrangements. If you ignore it, like most things, your situation will only get worse, costing you more …

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Millennials and Estate Planning

Yes, we know many Millennials don’t use paper to make lists but you get the idea–add estate planning to your to-do list.

The media spends a lot of time talking about Millennials. Experts analyze their spending habits, discuss how they will affect the economy, and sometimes chastise them for their financial planning or lack thereof. Earlier this year, NerdWallet decided to talk to this generation, saying, “Millennials, don’t forget estate planning” and noting that it is a mistake to think you can put off estate planning until you are in your 50s or 60s.

You may have heard …

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